According to EmberCN on Twitter, a trader opened a $103 million ETH short position at $2,514 with 25x leverage, only to face a significant price surge that led to a series of stop-losses and a total realized loss of $2.46 million. After liquidating the ETH short, the trader immediately shifted to a 40x leveraged BTC long at $106,580 using the remaining funds. This aggressive switch in trading direction highlights the risks and volatility present in high-leverage crypto derivatives trading, and suggests increased short-term volatility for ETH and BTC futures markets. Source: EmberCN Twitter, May 19, 2025.